Key Takeaways
- NEAR has surged to approximately $5.16 following a decisive rally from the $3 level.
- The cryptocurrency peaked near $5.42 during intraday trading before encountering resistance.
- Technical indicators show RSI at 79.91, indicating strong overbought conditions.
- MACD continues to display bullish signals, confirming sustained upward momentum.
- Bitwise’s upcoming U.S. spot NEAR ETF launch serves as a primary catalyst for the rally.
NEAR Protocol has achieved a significant milestone by crossing the $5 threshold during one of its most impressive rallies in 2026. Market participants drove the cryptocurrency through a critical resistance barrier that had previously constrained price action throughout much of the year.
On September 28, NEAR was changing hands around $5.16. Earlier in the session, the token touched a high near $5.42 before experiencing a retracement.
The daily candlestick reflected a decline of approximately 4.3% at its lowest point. This movement indicated profit-taking activity among traders following the rapid appreciation.
The magnitude of this price action is particularly notable when viewed on longer timeframes. Earlier in the summer, NEAR was trading beneath the $2 level. Throughout September, the token successfully penetrated both the $3 and $4 price levels.
Transaction volume experienced a substantial increase during this breakout phase. This elevated activity validated the strength and legitimacy of the price movement.
Breaking through critical price barriers
One of the most significant chart developments involves the breakthrough above the $3.10 to $3.50 resistance band. This zone had repeatedly rejected upward price attempts throughout 2025 and into early 2026.
With price now established above this critical zone, market participants are monitoring whether this former ceiling will transform into a support floor during any potential pullbacks.
Looking at immediate price levels, the $4.50 to $4.80 range has emerged as a point of interest. This zone aligns with the recent acceleration phase.
Higher on the chart, a broader resistance area exists between approximately $7.80 and $9. However, the $6 level represents the next major psychological barrier.
Several recent technical assessments have identified the $5.75 to $6.00 zone as the subsequent target zone following this breakout.
Analyst Michaël van de Poppe characterized the NEAR price structure as among the most compelling he has observed lately. He identified this movement as potentially representing the initial phase of a more extensive uptrend and indicated expectations for additional gains.
The Relative Strength Index on the daily timeframe reads 79.91. This measurement exceeds the conventional overbought benchmark of 70.
ETF approval amplifies buying pressure
The MACD indicator maintains a bullish configuration despite the retreat from recent peaks. The MACD line is positioned around 0.79, trading above the signal line at approximately 0.63. The histogram registers a positive 0.16.
These readings demonstrate that the momentum generated during September’s advance remains intact, although the elevated RSI suggests the possibility of consolidation.
The primary force behind this surge stems from the anticipated debut of Bitwise’s spot NEAR exchange-traded fund. The product has successfully navigated crucial regulatory approvals, establishing a new avenue for investors to access NEAR through traditional brokerage platforms.
The NEAR ecosystem itself has garnered significant market interest. NEAR Intents, a platform designed to streamline cross-chain interactions, has allegedly facilitated over $30 billion in transaction volume.
NEAR’s trajectory from below $2 to above $5 within a condensed timeframe demonstrates remarkable strength. The RSI approaching 80 illustrates the velocity of this appreciation.
The most recent daily candle indicates selling pressure emerged around the $5.40 level. Nevertheless, NEAR continues to trade substantially above its previous resistance zone between $3.10 and $3.50.
The post NEAR Protocol (NEAR) Soars Past $5 Mark as ETF Approval Sparks Rally appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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